Of the more than 70 horseshoe wells drilled to date, half came in the first nine months of 2024 as operators found 2-mile, single-section laterals more economic than a pair of 1-mile straight holes.
The discovery by a subsidiary of Murphy Oil Corp. is a reminder of the company’s exploration prowess, KeyBanc Capital Markets analysts said.
The European continent continues to pull in U.S. LNG, offsetting Norway’s Hammerfest LNG outage.
Shell’s Whale floating production facility in the Gulf of Mexico has reached first oil less than eight years after the field’s discovery of 480 MMboe of estimated recoverable resources.
Private equity firm Lion Equity Partners has acquired Warren Equipment Co.’s Global Compression Services business.
Jan 9 (Reuters) – A unit of French energy company TotalEnergies (TTEF.PA) agreed to pay $5 million to settle claims by U.S. energy regulators that it and some of its traders allegedly manipulated the natural gas market in 2009-2012. The settlement is much smaller than the $214 million the U.S. Federal Energy Regulatory Commission had …
TotalEnergies to Pay $5 Million to Settle US FERC NatGas Manipulation Case Read More »
MOSCOW, Jan 9 (Reuters) – A court in Switzerland has extended the deadline for Nord Stream 2 AG, a unit of Russia’s Gazprom (GAZP.MM), to restructure its debts to May 9 from Jan. 10, according to a court ruling. It also said that Swiss-registered Nord Stream 2 AG, the operator of the undersea gas pipeline …
Nord Stream 2 AG Gets More Time for Debt Restructuring Read More »
By Sethuraman N R Jan 9 (Reuters) – Global energy major BP (BP.L) has pledged to lift oil production by 44% and gas output by 89% from India’s largest field off its west coast, under a decade-long contract, according to block operator Oil and Natural Gas Corp (ONGC.NS) on Thursday. ONGC named BP as its …
BP Projects 44% Jump in Oil Output From India’s Largest Field, ONGC Says Read More »
With the transaction’s closure on Jan. 8, LS Power formed Clearlight Energy to manage the acquired renewable energy assets.
Crude’s advance at the beginning of the year won’t last if producers’ track record is any guide. Today, oil strategist Julian Lee looks at the challenges facing OPEC+ plans to raise output this year. The oil market may not be as oversupplied this year as some forecasters have been suggesting. That doesn’t mean it will …
